What happens if I need to sign a new commercial lease in the future?
The outbreak is certainly going to have an impact on new lease negotiations.
Undoubtedly many transactions will be put on hold or indeed stop entirely. Where matters are ongoing, tenants may well look to strengthen rent suspension provision.
It is also possible that tenants and their representatives will also now seek to include termination rights for unseen events. In this regard, the concept of force majeure may start to appear more often in leases.
In both of the examples above, such attempts are not likely to be well received from landlords who will undoubtedly suggest that tenants ensure that their business interruption insurance policies are robust enough to protect the tenant in the event of any future pandemic events.
Another approach tenants might adopt going forwards in negotiations for a new lease (or indeed seeking to vary existing leases), is to move away from the traditional market rent model to a turnover rent arrangement. This will offer some protection going forward if trading conditions deteriorate, but again getting institutional landlords to agree such an approach may prove difficult.
Related FAQs
The current situation with the coronavirus pandemic has presented obvious challenges to the effective and fair operation of the Court of Protection (COP). Remote access to the COP has therefore become a necessity to ensure that hearings continue to provide proper access to justice. All parties involved in such cases have a responsibility in achieving this primary aim.
The Chancellor announced:
- A new “job retention bonus” for employers to access for furloughed employees subject to certain conditions being met – see below for more information.
- A “Kickstart scheme” which will directly pay employers to create jobs for any 16-24 year old at risk of long-term unemployment.
- Incentives for employers to take on apprentices.
As a result of the CJRS being extended, the Job Retention Bonus will no longer be paid in February 2021.
- Do not require them to work
- Continue to communicate with and support them
- Allow them to work from home, is there alternative work for them to do if they can’t do their work from home
- Offer SSP or allow them to take holiday if they want to.
The GMC recognises the challenges the doctors may face as the situation continues to develop. This includes concerns about the risks to the health of the doctors when treating patients with coronavirus. Doctors should follow the current public health advice including self-isolating if they know or suspect that they are infected or are at a higher risk of infection.
Finally, all necessary steps should be taken to ensure that doctors have access to protective equipment and minimise the risk of transmission when treating patients. It is imperative that a record is kept of all decisions made and how any safety or health concerns have been handled.
The GMC continues to work with NHS England and UK’s Chief Medical Officers to provide updates and advice to all doctors as the situation develops. Click here for more information.
Small suppliers (defined by reference to certain financial indicators) are temporarily exempt from these new restrictions until 30th March 2021 in order to account for the difficulties to small suppliers during the Covid-19 pandemic.
There are also certain industries that are exempt from these restrictions (for example financial services). The Secretary of State may also create further exemptions framed by reference to kinds of company, supplier, contract, goods or services or in any other way.